Tuesday, 14th June 2005 (2595 views)

Anglo American has revealed it is to focus on its gold business, in order to boost business and work on areas where it has a market edge, such as precious metals.

According to the firm it will keep buying into sectors at the bottom of the commodity price cycle, since this has helped it achieved $15 billion of acquisitions since 1999.

In addition, $9 billion worth of non-crore business has been conducted during that time.

Tony Trahar, CEO of Anglo American, told Reuters: "We are looking at expanding into China, India, South America and anywhere we find assets."

Anglo American has a good position in the precious metals sector, with the world's second-largest gold producer, AngloGold Ashanti, one of the companies it owns.

 

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